Methuen Co-Operative Bank Mortgage Lending & HMDA Data, 2017
In 2017, Methuen Co-Operative Bank of Methuen, MA reported 49 mortgage applications totaling $12.5 million, down 4% from 2016. The average application was for $254,367, and applicants reported an average income of $163,265. 86% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (39), Manchester-Nashua, NH (5) and Rockingham County-Strafford County, NH (4) (applications in parentheses).
| Mortgage Company & Address | Methuen Co-Operative Bank 243 Broadway Methuen, MA 01844 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 49 |
| Total Mortgage Loan Application Amount | $12,464,000 |
| Average Mortgage Loan Application Amount | $254,367 |
| Highest Mortgage Loan Application Amount | $676,000 |
| Average Applicant Income | $163,265 |
| Highest Applicant Income | $1,500,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Methuen Co-Operative Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 39 | $ 9,651,000 | $ 247,461 | $ 132,000 |
| Manchester-Nashua, NH | 5 | $ 1,012,000 | $ 202,400 | $ 146,000 |
| Rockingham County-Strafford County, NH | 4 | $ 1,301,000 | $ 325,250 | $ 480,000 |
Mortgage Loan Application Detail Totals for Methuen Co-Operative Bank in 2017
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 23 | $5,928,000 | $257,000 | $530,000 | $146,000 | $335,000 |
| Home Purchase | 22 | $6,162,000 | $280,000 | $676,000 | $195,000 | $1,500,000 |
| Home Improvement | 4 | $374,000 | $93,000 | $345,000 | $88,000 | $108,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 40 | $9,914,000 | $247,000 | $560,000 | $145,000 | $384,000 |
| Not Provided | 3 | $1,029,000 | $343,000 | $676,000 | $556,000 | $1,500,000 |
| Asian | 3 | $1,115,000 | $371,000 | $576,000 | $113,000 | $158,000 |
| Hispanic | 3 | $406,000 | $135,000 | $280,000 | $66,000 | $80,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 49 | $12,464,000 | $254,000 | $676,000 | $163,000 | $1,500,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 42 | $10,447,000 | $248,000 | $676,000 | $174,000 | $1,500,000 |
| Application Denied By Financial Institution | 3 | $933,000 | $311,000 | $345,000 | $63,000 | $94,000 |
| Application Withdrawn By Applicant | 3 | $885,000 | $295,000 | $410,000 | $138,000 | $186,000 |
| File Closed For Incompleteness | 1 | $199,000 | $199,000 | $199,000 | $80,000 | $80,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 3 | $933,000 | $311,000 | $345,000 | $63,000 | $94,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Methuen Co-Operative Bank's 2017 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Methuen Co-Operative Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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